UPDATE: Omnicare Q4 Profit Rises 89%

Omnicare OCR reported an 89% surge in its fourth-quarter earnings. Omnicare's quarterly profit rose to $59 million, or $0.54 per share, from $31.2 million, or $0.34 per share, in the year-ago period. Excluding special items, its adjusted earnings from continuing operations came in at $0.86 per share. Its revenue fell 1.7% to $1.53 billion. However, analysts expected earnings of $0.85 per share on revenue of $1.51 billion. Its gross margin widened to 24.6% from 23.1%. For the year, Omnicare expects earnings of $3.47 to $3.57 per share on revenue of $6.1 billion to $6.2 billion. However, analysts projected earnings of $3.53 per share on revenue of $6.22 billion. Omnicare shares closed at $39.57 on Friday.
Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Posted In: EarningsNewsGuidanceprofit
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!